Hang Seng Strengthens, Markets Monitor Strait of Hormuz
The Hang Seng Index rallied 275 points (1.1%) to 25,940 on Tuesday (April 14), rebounding after a brief correction in the previous session. The rally occurred as optimism over the possibility of an Iran deal lifted risk sentiment.
The rally in Hong Kong followed Wall Street's overnight gains after US President Donald Trump signaled the prospect of new talks with Tehran. Hopes for de-escalation helped ease market concerns about prolonged disruptions to energy flows, despite the ongoing blockade of the Strait of Hormuz.
Meanwhile, oil prices also weakened amid indications that both sides could reopen ceasefire negotiations. The decline in oil provided additional support for equities by helping to ease inflationary pressures and alleviate concerns about tighter monetary policy, improving risk appetite in the region.
On the Hong Kong stock exchange, most sectors moved positively, led by financials and technology. Several major stocks rose, including Tencent (+1.5%), AIA (+1.1%), Xiaomi (+1.6%), HKEX (+0.9%), and Galaxy Entertainment (+0.7%). (asd)
Source: Newsmaker.id